Threats Cloud Euro's Flight

With Europe's Economy Still Hobbled, the Currency's Surge Could Soon Stall

By

Jessica Mead,

Ira Iosebashvili and

Charles Forelle

Jan. 30, 2013 6:42 p.m. ET

The euro, once on death's door, is on a monthslong tear, rising Wednesday to its highest level since November 2011.

But even some investors who helped propel the currency above $1.3560 Wednesday say it can't fly much further. Europe's economy is still in the doldrums, they say, and a stronger euro could make the situation worse. And with central banks elsewhere racing to push down their own currencies, boosting the relative value of...